The report offers actionable and valuable insights on the Bacteriophage market. The latest report by Fact.MR provides details on the present scenario of the Bacteriophage market across various regions along with the historic data and forecast of the Bacteriophage market. The report also includes information on the sales and demand of Bacteriophage across various industries and regions. Market dynamics including latest trends, challenges, growth opportunities, and drivers for is also provided in the Bacteriophage market report.
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Emergence of multi-drug-resistant pathogens, as a result of huge application of antibiotics over a long time, is growing, and becoming increasingly difficult to treat. Bacteriophage technologies have therefore begun to garner great interest as alternatives to antibiotics. Rising prevalence of antimicrobial resistance and limited new antibiotic discoveries and development have sustained innovation and led to a renewal of interest in bacteriophages.
Advantages of phage therapy along with probiotics are gaining importance in the treatment of antibacterial-resistant infections, and demand is expected to grow over the next few years. Currently, players operating in the bacteriophage market are concentrating on meeting the needs of health professionals and patients by introducing novel phage therapies, and are investing in the development of advanced bacteriophage platforms.
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As per Fact.MR’s analysis, the global bacteriophage market was valued at around US$ 39 Mn in 2019, and is projected to expand at a CAGR of over 4% through 2030.
Key Takeaways from Bacteriophage Market Study
- Phage probiotics to account for over 95% market share in 2020.
- Gastroenterology is the most lucrative application segment, and holds nearly 94% of the market share.
- North America and Europe collectively hold over tow-third of the global market share, owing to technological advancements and increasing research & development activities across these regions.
- Retail and hospital pharmacies to account for over 80% value share through 2030.
- The COVID19 pandemic has resulted in a temporary pause of all non-essential and elective procedures. Pharmaceutical manufacturers have been severely impacted, with companies reporting a significant drop in revenue due to supply chain crisis.
- Russia holds a major share in the European market, and is projected to expand at a CAGR of close to 6% over the next ten years.
- The U.S. has a leading share in North America, and is projected to expand at a modest CAGR of over 3% through 2030.
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“Rising adoption of e-Commerce and increasing technological advancements in the development of phages are factors anticipated to aid growth of the global bacteriophage market over the coming years,” says a Fact.MR analyst.
Strategic Partnerships and Funding by Manufacturers for Development of Phage Therapeutics
Pharmaceutical companies are collaborating with a collective goal to foster innovation by working with biotech firms and companies, governments, and market stakeholders, to enable supportable investments into a novel pipeline of bacteriophage therapy.
For instance, Janssen Pharmaceuticals, Inc. and Locus Biosciences Inc., in 2019, signed a complete license and collaboration agreement to manufacture, develop, and commercialize CRISPR-Cas3-enhanced bacteriophage (crPhage) products for the treatment of various infections, such as respiratory tract infection caused by two key pathogens, and other related infections. For this, Locus will receive US$ 20 million as an initial payment, which is expected to reach US$ 798 million from future sales of the product.
Such partnerships between pharmaceutical companies are aimed at strengthening and accelerating phage therapy development to introduce new therapies by end of this decade.
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The research study on the bacteriophage market by Fact.MR incorporates an unbiased assessment of key demand-driving factors and trends, which have shaped the landscape over 2015 – 2019, and includes a detailed assessment of key parameters that are anticipated to exert influence during 2020 – 2030. Market statistics have been presented based on product (phage probiotics and phage therapeutics), route of administration (oral, topical, and others), application (gastroenterology, respiratory infections treatment, skin infection treatment, wound prophylaxis, urogenital infection treatment, and others), and distribution channel (retail pharmacies, hospital pharmacies, and online pharmacies), across seven regions – North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East & Africa.
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The Bacteriophage Market research answers important questions, including the following:
- Why Bacteriophage Market players are focusing on the business expansion in region?
- Which regulatory authorities have granted approval to the application of Bacteriophage Market
- What are the pros and cons of the Bacteriophage Market the environment?
- Why players are targeting the production of segment?
- What are the strategies implemented by emerging players in the global Bacteriophage Market?
The Bacteriophage Market report serves the readers with the following data:
- In-depth analysis of supply-side and demand-side trends.
- Direct and indirect impacts of the growth of relevant markets on the Bacteriophage
- Importance of segment in various regions.
- Accurate Y-o-Y growth of the global Bacteriophage
- Consumption trends among individuals across the globe.
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